Implications of Sale, page-3

Probably worth revisiting now that share price has risen from 23c to 39c, and importantly we are nearing year's end.
Under ATO ruling any distribution of proceeds from sale are to be by way of cash and not in-specie transfer.
Importantly the franking credits cannot be distributed until the year following sale of shares.
A quick calculation of a distribution of 90% of sale at say $5.40 shows

	Column 1	Column 2
0	ASSUMPTIONS
1	Sale Price	$5.40
2	no shares in SYR	11,000,005
3	no shares on issue	106,844,810
4	Distribution of proceeds	90%
5
6	DISTRIBUTION
7	Sale proceeds	$59,400,027
8	less past losses	-$5,689,550
9	Taxable income	$53,710,477
10	Tax at 30%	-$16,113,143.10
11	available for dist	$37,597,333.90
12
13	per share by 90%	$0.32
14	franking cr	$0.14
15	overall distribution	$0.45

If sale does not take place before 30/6/16 any distribution of franking credit could not take place before 1/7/2018
At that stage SYR might have reached a higher price and overall distribution would be
At
$6 = $0.51
$6.40 - $0.55
E&OE